Archive for September, 2008
Payment Protection Insurance Still Controversial
Despite heavy fines levied against lenders in the recent past, the Financial Ombudsman Service continues to receive hundreds of complaints per week over the highly questionable insurance, says the Times Online.
PPI is typically sold as a form of protection on financial products such as personal loans, mortgages, and credit cards in the event the borrower [...]
Wallstreet Shaken As Lehman Collapses
The collapse of Lehman Brothers lead to a Dow Jones fall of 500 points - the worst one-day loss in over 6 years, reported the Times Online. With Lehman crumbling into bankruptcy, AIG’s prospects looked dim were it not for a $20bn bailout.
Following the Dow’s plunge S & P’s 500 Index also fell by 58.74 [...]
